When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. OurPrivacy Noticeexplains more about how we use your data, and your rights. You can unsubscribe at any time.

Troubled travel firm Thomas Cook has reassured customers that it's "business as usual" just days after the company's stock was branded worthless.

Its share price fell sharply at the end of last week after it was announced that in the first six months of 2019, the company has already made operational losses of £1.4billion, chief executive Peter Fankhauser said.

Thomas Cook said: "We have the support of our lending banks and major shareholders, and just this week we agreed additional funding for our coming winter cash low period.

"We have ample resources to operate our business and at the same time, as usual, our liquidity position continues to strengthen into the summer period."

But what about customers who have booked with Thomas Cook? Will they get their money back if the firm goes bust?

Customers who have booked a package holiday with the travel operator will get their money back if they go under, as Thomas Cook is ATOL protected.

The financial scheme, which has been running in the UK since 1972 by the Civil Aviation Authority (CAA), protects holiday makers if they have booked a package holiday.

It means if the company goes into liquidation, travel makers will be able to finish their holiday and return home if the company goes bust while they are abroad.

If the business collapses before they travel, the scheme will provide a refund or replacement travel.

When you book any package holiday in the UK, you pay a £2.50 levy included in the cost of your holiday.

That money goes into an independent fund, the Air Travel Trust, administered by the CAA.

That fund stands ready to help, by either repatriating holidaymakers, or making sure you get your money back, if for whatever reason you don’t get your holiday.

But if the company does fold, customers who have booked flights only with the company will need to check with their insurance company, as they may not have the same cover.

The travel company has posted on social media to reassure travellers with trips that "it's business as usual".

Responding to a customer who was concerned about a trip to Kefalonia in Greece in July, the travel giant said: "Hi David, it's business as usual here, with our Airline Operations performing just as normal so there's no need to feel concerned.

"All of our package holidays are ATOL Protected, just giving you that extra piece of mind about your upcoming holiday.

"We want you to travel with the utmost confidence and only be looking forward to your upcoming holiday. If you need anything else, please don't hesitate to get back in touch!"

But the company are also reassuring those with flight-only deals that flights are set to "go ahead as planned".

In a statement, Thomas Cook said: "Thomas Cook is one of the best-known travel brands in the UK. We’re responsible for taking over 20 million people abroad on holiday every year and we take that responsibility very seriously.

"We have taken a number of proactive steps in recent months to strengthen our financial position. We have the support of our lending banks and major shareholders, and just this week we agreed additional funding for our coming winter cash low period. We have ample resources to operate our business and at the same time, as usual, our liquidity position continues to strengthen into the summer period.

"As an ATOL-protected business, all of our holidays are protected under the package travel directive, so our customers can have complete confidence in booking their holiday with us.

"We’re looking forward to the summer season with 20 new own-brand hotels openings and some great offers for customers."

Peter Fankhauser, chief executive of Thomas Cook, said: "The prolonged heatwave last summer and high prices in the Canaries reduced customer demand for winter sun, particularly in the Nordic region, while there is now little doubt that the Brexit process has led many UK customers to delay their holiday plans for this summer."

He added: "As we look ahead to the remainder of the year the continued competitive pressure resulting from consumer uncertainty is putting further pressure on margins.

"This, combined with higher fuel and hotel costs, is creating further headwinds to our progress over the remainder of the year."